NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0201%/8h= −22.0% APRnext payment −$0.25 per $10,000 · paid last 24h −0.065%

Price spread now: Arcus against Phoenix−0.039%49s7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.531% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.039%, 7d avg −0.113%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.074% dearer against Phoenix than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.113%): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 4 days (−0.007% in total) that is about 39 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.007% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NBIS	230.44	0.0242	pay 0.0030% / 1h	24m 01s	$7K	$150K	10x
Short	Arcus NBIS-USD	230.35	0.0040	get 0.0005% / 1h	24m 01s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee ArcusbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$42.26
Price spread: −0.039% → −0.113%: $7.35
Slippage, 4 orders: −$41.61
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$88.02
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from Phoenix: live order book, 17 min ago; Arcus: live order book, 24 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 17 min ago	6.07 bp	17.2 bp −$17	37.7 bp −$377	doesn't fit	doesn't fit
Sell Arcus live order book, 24 min ago	2.59 bp	12.6 bp −$13	18.0 bp −$180	doesn't fit	doesn't fit

NBIS on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDT	−0.0495%	8h	230.88	+0.191%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0029%	8h	230.52	+0.035%	$204K	$204K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.63	+0.083%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.73	+0.125%	$146K	$757K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.77	+0.144%	$18.5M	$86.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.84	+0.174%	$4.9M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.85	+0.178%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.85	+0.178%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.38	−0.027%	$2.9M	$554K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.84	+0.173%	$5K	$118K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.70	+0.113%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.52	+0.035%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.88	+0.191%	$1.6M	$955K	10x	as long as short
Nado NBIS-PERP	+0.0014%	1h	230.29	−0.064%	$37K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0029%	1h	230.51	+0.030%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	230.35	−0.039%	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	230.45	+0.004%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.49	+0.022%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.49	+0.022%	$111	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.65	+0.091%	$152K	$532K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0068%	1h	230.74	+0.130%	$53.6M	$20.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.47	+0.013%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.52	+0.035%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.49	+0.020%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	230.62	+0.078%	$353K	$792K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0223%	1h	230.55	+0.046%	$23K	$15K	20x	as long as short
Lighter NBIS	+0.0232%	1h	230.62	+0.078%	$929K	$4.0M	10x	as long as short
Phoenix NBISlong	+0.0242%	1h	230.44	long leg	$7K	$150K	10x
Entropy io:NBIS	+0.0292%	1h	230.43	−0.004%	$10.0M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0361%	4h	230.33	−0.050%	$37K	$226K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0705%	1h	230.64	+0.087%	$34K	$49K	10x	as long as short